The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-11-04
HIS FATHERS SUCCESSOR
sToNEY R. MONTGOMERY MANAGER
OF THE coTToN GoMPREssEs.
His Majority Clearly Shows the Conf
dence and Esteem in Which He Is
Held by the Stockholders Why He
Was Preferred for the Position.

|
A successor TO tho lanlented Col
Henry A. Montgomery ~ superintendent
and general manager OF the Merchants
cotton compress and storage company has
been chosen. The important responsible
ity falls upon his son, Mr.. Stoney X.
Montgomery, a young man only twenty
six years of age. From O'Clock am TO
2o'clock pm, yesterday, stockholders in
the concern called at the company's Office,
northeast basement corner OF the Cotton
exchange building and east their votes.
When the polls closed the vote stood For
Montgomery, G6i; for John Johnson, 279.
In stock this represented 5000, 400 for the
successful candidate, and S207,000 for his
opponent MessH. J.'W. Jefferson and
All q. luther served as judges Of election.
The result n no great surprise, notwith-
standing the fact that there was some
doubt and uncertainty, because OF the
large number Of gentlemen who would
take an active part. Two or more iruitless
attempts TO al the vacancy were made by
the SIX directors within proper time after
Col. Montgomery's death. A tie vote, east
with determined adherence TO first choice,
rendered a result impossible and the mat.
Ter went TO the stockholders by consent of
all parties. Mcssrs. Napoleon Hill, w. j.
Crawford and John W. billiard favored
Mr.. Johnson and Mcssrs. c. p. Iunt, W.
ID. Bethel and John w. Falls manifested
answering confidence in Mr. Montgom.
cry's fitness and merits. or course these
divisions laborod for their respective candi-
dates among the stockholders, but they be-
ing successful business men, each thought
for himself. AS will DO seen, Mr. Mont
gomery smajority represents 500, 700 more
OF the capital stock than the opposing can
Tho stockholders grouped together as II
by common impulse, after the contest was
over, and discussed the result with deal
OF animation. As the successful candi- |
dates friends were No largely in the major
ny, the opposition found no reason or con-
ISOLATION In becoming disgrun' cd, 10 the |
utmost good feeling prevailed, apparently. |
An APPEAL reporter approached one Of the |
largest OF ihcsSgroups, listened Ia the con- |
Versatlon Tor awhile and when il was con. |
cluded called one of the party aside TO |
NNh oltl' vi lffllilHs
You can readily see from our faces
that we are pleased, said he. III suppose
the others are contented also. as there has
been no outspokcn sentiment Of gricvous |
And Why shouldn't this |
Stale OF aiialrs EXIST Tlfcte il II, OOO, 600 |
wrapped up In the compress business. we |
are owners OF part of II, have considered |
II IN every light, and voted for what wo |
considered our best interests"
What were the main objections raised /
against Mr.. Montgomery,
Nothing but youth. .Ail admitted that
nc had been his successful hnthcr's fight.
iand man, knew the business thoroughly.
all the requisite capabilities 10
AXE his fathers place, and was, therefore.
he proper man for Il. look at a matter
4 that kind in this way: II man has mo-
cnsc and business ability Mt the ace of
twenty-five ycars, he mover will have.
ionlh is no crime in my eyes. and that
Gems to he the ease with y Inaiorjts Of the
tockholdcn" nm < iif.I |
"bo you anticipate hnpbppsiIkar6n a
business way; in other words, n now. tom.
,rcss comprrss2 You remember applica.
ion for charter was filed the other pay.
mo Of the compnny's objects being 10
uild and operate cotton congresses"
Yes, ! understand something Of the
ind has been talked Of aud was a feature
4 that application, but the idea will
lnrdly bc carried out tOtlnt extent. For
ears threatened riynliies have been
alkcd OF, but they never materiullzod.
oppose Il WIS included among tho speci.
lcaions merely 10 he prepared for any
that might arise"
What were your objections "a Mr..
Johnson, and the others who voted as YOU
lid2"
well, he Is inexperienced in the bnsi.
less; has no special claims upon II, and
W. could not conceive why the concerns
Hairs would be- safer la his hands than in
'ir. Montgomery"
Although the compress and s,oraee COM
ANY lisa private corporation, with the sumo
light 10 conduct IL affairs A. such. the pub.
ic has taken u deep Interest in the result
nom I hc peculiar position Of the city M
,rc-cminently cotton market, and irom
lac fact that It's COMPRISING ia,ilitics have
zen instrumental in developing the busi
'css Ia it, present status. The Interest n
ioi IN the least singular or Ia be criticised
" lar ~ known, even among lho.e who
advocated aud voted for Mr.. johnson, the
lection OF MI. Montgomery gives entire
abstraction.
I